Could surging oil prices cause a global depression?

Oil prices have spiked following the outbreak of war in Iran, with crude oil jumping to over £75 a barrel.This is having a huge impact around the world, and is set to get worse.Megan Gibson is joined by Rory Johnston, oil market researcher and author of the Commodity Context newsletter, who argues that this scenario could lead to a global depression.LISTEN AD-FREE:📱Download the New Statesman appMORE FROM THE NEW STATESMAN:❓ Ask a question – we answer them every Friday⏰ Get our daily politics newsletter every morning✍️ Enjoy the best of our writing via email every Saturday Hosted on Acast. See acast.com/privacy for more information.